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Archive for February, 2020

Legal Q & A by – Franco Simone, Esq.

Posted on 01. Feb, 2020 by .

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Q:  I have tenants who have not paid rent and are claiming they have bed bugs. Can I give them a three-day notice to pay rent or quit before I inspect the unit?   A: No, you should not give a three-day notice to pay rent or quit until the bed bug inspection is completed and […]

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Renters Insurance Program for Apartment Owners & Property Managers By-GSI Insurance

Posted on 01. Feb, 2020 by .

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Why Do My Tenants Need Renters Insurance?  Fire, explosion, smoke, and water damage are just a few examples of the types of losses caused by tenants.  Did you know that: The average amount of damage caused by an apartment fire is $11,000.  There are 103,000 fires set annually by tenants residing in multi-family units.  70% […]

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What are the Best Properties for a 1031 Exchange? By-Dwight Kay and The Kay Properties Team

Posted on 01. Feb, 2020 by .

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You are about to sell your property, and your CPA tells you that there is a large tax consequence lurking around the corner. In order to avoid paying capital gains and depreciation recapture tax, you consider a 1031 exchange whereby your taxes are deferred from the sale into a new property or group of properties. […]

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Think Statewide Rent Control is a Bad Idea? Look What Ocasio-Cortez Is Proposing – By Brian Wallace, SPOSFI member

Posted on 01. Feb, 2020 by .

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You know how we’re always having to explain San Francisco’s rent control to out-of-state visitors? Well, if New York’s Congressional Representative Alexandria Ocasio-Cortez (“AOC”) has her way, we won’t have to do that anymore, because every state in the nation will have rent control. The Congresswoman’s ambitious, anti-poverty bill, “A Just Society,” aims, in her […]

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Something to Think About #89: Information, Not Advice Part 9 by – Klarise Yahya

Posted on 01. Feb, 2020 by .

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Many of the same barriers to entry that are used to choose promising stocks can also be applied to help select auspicious apartment buildings. The elements are the same-but-different in the way that middle C is the same note whether played on the oboe or the cello, but the sound is not the same.  The […]

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Essential Landlord Tips and 12 Ways to Collect Rent on Time By- Jeffrey Taylor, “Mr. Landlord”

Posted on 01. Feb, 2020 by .

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Start your New Year off by adhering to the below tips that will help you be a successful landlord:

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Christmas Miracle in Long Beach Tenant Relocation Ordinance Will Be Repealed! By-Joni Weir

Posted on 01. Feb, 2020 by .

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The City of Long Beach has contacted Better Housing for Long Beach and our legal team letting us know they intend to repeal the tenant relocation ordinance – the one that is the subject of our lawsuit.   They included a link of a published article regarding their intention to repeal the tenant relocation ordinance.

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New Year’s Tips for “Smart Landlording” By-Teresa Billingsley

Posted on 01. Feb, 2020 by .

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Are you new to owning rental property and do not have a clue how and where to start? Or are you a property owner who has been in the field awhile and are seeking suggestions how to improve on your business and make it more profitable and productive? If you fall into either of these […]

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Legal Q & A by Richard Beckman

Posted on 01. Feb, 2020 by .

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Question 1: Is there a form to use for properties that are not exempt from the new California rent control law that begins 1/1/20?  Is there a form to use for properties that the rent will be rolled back on 1/1/20 to 5% plus CPI?  And what website do you recommend when determining the CPI for […]

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Legal Q & A by Dennis Block

Posted on 01. Feb, 2020 by .

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Question One: I allow my tenant to pay rent by depositing the funds directly into my bank account. When I did not get the rent, I issued the tenant a 3 Day Notice to Pay Rent or Quit. I did not receive the rent within the three days, so I initiated an unlawful detainer action. […]

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5 Multifamily Investing Predictions and Expectations for 2020 By-Vinney Chopra and Jon Roosen

Posted on 01. Feb, 2020 by .

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The market for multifamily properties is continuously changing. In the light of major political, social, and economic developments, investors will have to look at the bigger picture. Adaptation is the key to success amid an uncertain landscape. Whether to resist or go with the flow will depend on what investors want to achieve in the […]

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What Is It That You Really Want? By-TERRY MOORE, CCIM

Posted on 01. Feb, 2020 by .

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“Take what you want but pay for it.” ~ Spanish proverb It would be wonderful if we didn’t have to pay the cost, if we could just take what we want. But the universe doesn’t work that way. That’s true for monetary costs and it’s also true for the trade-offs that come with every decision […]

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Socialist Party Crushed in Latest British General Elections By-Gary D. Halbert

Posted on 01. Feb, 2020 by .

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As you likely know, the United Kingdom recently held a general election where Boris Johnson and his conservative Tory Party delivered, as the Brits would say, a thumping to the Liberal/Socialist Labour Party led by Jeremy Corbyn. What you may not know is why. The mainstream media would have us believe that the only reason […]

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Communication Breakdown: Improving Interactions Between Property Managers and Owners By-David Crown

Posted on 01. Feb, 2020 by .

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I’ve written often about the importance of open communication between a property manager and the property owners they represent. Transparency is paramount in our industry, where owners ought to know exactly what they’re paying for, and managers ought not act on assumptions. In this article, I’ll present a comprehensive guide for positive and profitable interactions […]

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Start Your New Year’s Success – Do You Know Your Building’s Financials? By-Cliff Hockley

Posted on 01. Feb, 2020 by .

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“The biggest mistake many investors make is to ignore the numbers generated by their properties.” Financial Statements Let’s start with financial statements, or lack of them. Many real estate investors only track the results of their real estate investments at tax time. Instead investors should be reviewing their results by reading their financials on a […]

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California Taxpayers Are Under Attack, But We’re Still Fighting for You! By-Jon Coupal

Posted on 01. Feb, 2020 by .

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There is little doubt that California taxpayers are under attack from all sides.  Our elected leadership continues to burden both businesses and homeowners with an endless array of regulations and taxes.  It is little wonder why there has been a significant uptick in outmigration by both businesses and individuals from California.  That is why it […]

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How to Decide When to Sell By- Terry Moore, CCIM

Posted on 01. Feb, 2020 by .

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“How do I know when it’s time to sell?” That’s a common question when I speak at a group of landlords or investors. The short answer is: “You can’t.” There’s no magic formula. You’ll never have perfect knowledge. You can never “know.” You must decide. Sometimes, the decision almost makes itself.

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Can Kanye West Resolve L.A.’s Housing Crisis? Not if City Bureaucrats Have Their Way By-Phillip Bader

Posted on 01. Feb, 2020 by .

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If you only know Kanye West from his music (or the Award Show Interruption Heard Round the World), you would be forgiven for being more than a little surprised by the headline above. But there are few things about Kanye West that aren’t surprising. This past summer, Kanye began work on a new housing community […]

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How to Handle Suspicious Documentation for Assistance Animals By – Ellen Clark

Posted on 01. Feb, 2020 by .

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If you suspect that documentation for assistance animals is suspicious, you may ask for more information. Recently, you may have noticed documentation coming from websites that offer assistance animal “certifications” for a fee, but they appear to provide this documentation without firsthand knowledge of a person’s disability or what assistance or support the animal provides.

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Who Must Pay a Resident Manager’s Cell Phone Bill? by – Dale Alberstone, Esq.

Posted on 01. Feb, 2020 by .

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Hello everybody.   My discussion this month addresses the question of whether an apartment owner must pay any portion of his/her manager’s cell phone bills if the manager uses a personal cell phone for work-related purposes.  More broadly, do employers have to pay any part of their managers’ monthly cell phone bills? The answer depends […]

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Did You Know By Dennis Block

Posted on 01. Feb, 2020 by .

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Acceptance of Partial Payments Via Bank Deposit (Residential Tenancy)  There is no obligation to accept partial payments during the pendency of a 3-Day Notice or any time after the notice has expired. If you have it set up to where the tenant is to deposit funds into your bank account and the tenant deposits a […]

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New York Challenges Rent Laws!

Posted on 01. Feb, 2020 by .

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New York Challenges Rent Laws! The below article is from the RSA Reporter, the official publication of New York’s Rent Stabilization Association. The Rent Stabilization Association (RSA), New York’s apartment association together with the Community Housing Improvement Program (CHIP) and individual property owners filed a lawsuit challenging the constitutionality of the New York Rent Stabilization […]

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